Navicore Solutions Offers Crucial Financial Support as Credit Card Interest Rates Increase

MANALAPAN, N.J., July 01, 2025 (GLOBE NEWSWIRE) -- As credit card interest rates continue to climb, averaging 25.37% for existing balances in June, Navicore Solutions is stepping up to provide essential financial counseling services to consumers nationwide. Despite the December 2024 Federal Reserve rate cuts, credit card Annual Percentage Rates (APRs) remain high, exacerbating financial strain for many Americans.

The average APR has been steadily increasing, particularly since the beginning of 2022, due to a combination of factors including the Federal Reserve's interest rate hikes and increases in credit card issuers' margins.

The Federal Reserve's recent interest rate cuts in December 2024 have had minimal impact on credit card APRs, which remain near record highs. For instance, the average APR on new credit cards ranges between 20% and 29% which is significantly higher than pre-pandemic levels. This persistent rise in credit card interest rates is contributing to increased financial distress, with many consumers struggling to manage their debt.

Navicore Solutions, a nonprofit credit counseling organization offers confidential, and personalized financial counseling to individuals and families across the United States. Navicore’s certified counselors work with clients to develop customized debt management plans, often reducing interest rates and consolidating multiple payments into a single monthly payment. This approach can help clients pay off unsecured debt in three to five years, providing a clear path to financial stability.

"In these challenging economic times, it's more important than ever for consumers to seek professional guidance," said Diane Gray, Chief Operating Officer with Navicore. "Our team is dedicated to helping individuals regain control of their finances, reduce debt, and avoid the pitfalls of high-interest credit card debt."

For those struggling with credit card debt, reaching out to a nonprofit credit counseling agency like Navicore Solutions can be a crucial step toward financial recovery with services designed to empower consumers with the knowledge and tools needed to make informed financial decisions and achieve long-term financial health.

About Navicore Solutions

Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling with a mission to strengthen the well-being of individuals and families through education, guidance, advocacy, and support.

Navicore counselors provide a wide range of services including credit counseling to consumers in need; education programs through workshops, courses and written material; debt management plan to provide relief for applicable consumers; student loan counseling for those struggling with student loan debt; and housing counseling services in the areas of rental, pre-purchase, default and reverse mortgage. The agency is an advocate of financial education helping communities achieve and maintain financial stability.

Contact:
Lori Stratford
Digital Marketing Manager
Navicore Solutions
lstratford@navicoresolutions.org
navicoresolutions.org

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